Sensex extends gains for second day, up 278 points on value-buying

Mumbai: Market benchmark Sensex rose for a second straight day by surging over 278 points, led by a rally in recently beaten-down bluechip stocks, trimming weekly loss amid mixed Asian cues and a better start in Europe and firm US index futures ahead of jobs data.

All the sectoral indices ended in green with the shares of metals, healthcare, banking and auto recording gains, notching up smart gains.

On a weekly basis, both the key indexes Sensex and Nifty slumped as concerns grew over global economic outlook amid swings in crude oil prices.

During the week, Sensex dropped by 253.72 points or 1.02 per cent and NSE Nifty fell 74.45 points or 0.98 per cent. On the day, a higher opening in Europe and a firm trend in US index futures with a rebound in crude ahead of US jobs data for January, positively impacted sentiments here.

The BSE Sensex after opening higher at 24,360.36 advanced to hit the day's high of 24,672.90 and settled 278.54 points or 1.14 per cent up at 24,616.97.

The index had gained 115.11 in the previous session. The 50-share NSE Nifty after testing the 7,500-mark to hit a high of 7,503.15, ended 85.10 points or 1.15 per cent higher at 7,489.10.

Shares of drug major Lupin emerged top gainer among Sensex constituents by jumping 9.04 per to Rs 1,801.45 despite firm reporting 11.91 per cent decline in consolidated net profit for the third quarter.